New Position Will Help Province Attract Investment, Create and Protect Jobs
Ontario has appointed Allan O’Dette, a seasoned business executive and entrepreneur, as the province’s first Chief Investment Officer.
Mr. O’Dette brings years of private sector experience to the role and will lead the recently established Ontario Investment Office (OIO). The Ontario Investment Office provides a one-window concierge service for businesses looking to invest and expand in the province.
In addition to fostering the growth of emerging sectors including advanced technology, Mr. O’Dette and the OIO will work with manufacturers and other businesses to help support new investment and growth across the province.
Creating the conditions for businesses to succeed is part of Ontario’s plan to create jobs, grow our economy and help people in their everyday lives.
- Mr. O’Dette was the president and chief executive officer of the Ontario Chamber of Commerce, the voice of 60,000 Ontario businesses and two million workers. Before that, he spent a quarter century as an entrepreneur and executive in the biopharmaceutical industry.
- A one-window approach to investment attraction is already paying off. An advanced manufacturing investment from GE Canada in Welland was made possible through a coordinated effort that is creating 220 jobs. Ontario is providing GE a conditional grant of $26.55 million through the Jobs and Prosperity Fund, leveraging an overall investment of almost $240 million.
- Ontario’s Business Growth Initiative is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale-up and modernizing regulations for businesses.
- The Jobs and Prosperity Fund helps secure private sector investment in Ontario, allowing the government to partner with businesses that are creating jobs, and enhance productivity, innovation and exports. Since January 2013, Ontario has announced 21 projects with government commitment totaling $815 million, leveraging more than $7.4 billion in private sector investment.
- One in eight jobs in Canada is linked to global investment.
Photo from: www.thestar.com